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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
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- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
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